Life after Westminster: the MPs who go into the City

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Being sacked live on television is the fate of several dozen members of Parliament every election, from modest backbenchers to senior Cabinet ministers. This abrupt way to end a career, rictus-faced in the early hours as the voting tallies echo around the sports hall, is recalled with a shudder by many former politicians.

It’s a fate that those working in the private sector rarely have to confront and, for some MPs, the electorate’s axe marks the start of a successful hinterland in insurance, consulting, or any number of other industries that attracted their attention during their days in Parliament.

Lord Lang, who earlier this month stepped down as chairman of the New York-listed professional...